Spanish downgrade revives euro debt fears

Latest update : 2011-03-10
Moody's downgraded its credit rating on Spain by one notch Thursday, warning that recapitalising the country would cost far more than the €20 billion the government had forecast. The news sparked fresh concern about Europe's debt crisis.
REUTERS - Moody's downgraded Spain's sovereign debt rating by one notch on Thursday and warned of further cuts to come due to fears that bank restructuring will cost more than twice what the government expects.
Date created : 2011-03-10